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AppMagic, a mobile market intelligence platform, recently secured $3 million in a Series A funding round. Founded in 2016, the company offers valuable data on mobile apps and games, including revenue and download estimates, app rankings, market estimates, ad intelligence, live ops analysis, and more.
The funding came shortly after a significant development in the market intelligence space, with Sensor Tower acquiring its main competitor data.ai in a major merger earlier this year.
Max Samorukov, the founder and CEO of AppMagic, shared his insights on the industry. He highlighted the company’s growth strategy and the importance of financial backing to compete with market leaders.
AppMagic operates without a physical office, with a globally distributed team. The company plans to expand its presence in key markets like the US, China, South Korea, and Japan with the new funding. Additionally, the investment will support research and development efforts for enhancing platform features.
“Their price war has ended … they went down a lot during the last five years because of the price war.”
Max Samorukov
Samorukov acknowledges the competitive nature of the market intelligence sector, especially with the recent merger of Sensor Tower and data.ai. Despite the challenges, he believes AppMagic can offer a unique alternative by focusing on comprehensive data points from ad intelligence to ASO.
Looking ahead, AppMagic recognizes the evolving landscape of market intelligence, particularly in maintaining data accuracy across various platforms and revenue models. Samorukov emphasized the company’s commitment to exploring new avenues for data gathering and expanding its capabilities to provide valuable insights.
